Romanian President Traian Băsescu made a surprise announcement that Romania would not see negative growth in the fourth quarter of 2010 after all, contradicting forecasts of most analysts.
"A few positive signs have already started to emerge, against all estimates. Romania will not see negative growth in the fourth quarter of last year, statistical figures will emerge over the next few weeks. Positive growth could start in the first half of this year," the President told România Liberă daily in an interview.
The National Statistics Institute announces today the first forecasts on GDP progression in the last quarter of last year.
Most analysts anticipate a GDP decline was recorded in the last quarter, both against the third quarter of the year and year-on-year.
"We think the economy remained in negative territory in the last quarter, but the decline is less significant. The estimated decline is 0.3% quarter on quarter in seasonally adjusted terms, and 1% year-on-year. The decline was less marked. An increase could have been recorded in the last quarter only against the third quarter, in seasonally adjusted terms. But the chances of that are low. It would be a nice surprise if we saw a positive figure," commented Lucian Anghel, chief economist of BCR.
Romanian President Traian Băsescu made a surprise announcement that Romania would not see negative growth in the fourth quarter of 2010 after all, contradicting forecasts of most analysts.
"A few positive signs have already started to emerge, against all estimates. Romania will not see negative growth in the fourth quarter of last year, statistical figures will emerge over the next few weeks. Positive growth could start in the first half of this year," the President told România Liberă daily in an interview.
The National Statistics Institute announces today the first forecasts
